Democrats reintroduced a plan to create $1,000 savings accounts for every newborn in America.
Spearheaded by Sen. Cory Booker of New Jersey and Rep. Ayanna Pressley of Massachussetts, the legislation would put up to $2,000 a year into an interest-accruing fund that's managed by the Treasury Department. Children from lower-income families would receive larger cash payments. "To truly 'build back better' our economy, we cannot ignore the extreme and persistent wealth inequality that deprives kids of economic opportunity right out of the gate," Booker said in a statement."In a country as wealthy as ours, every person should have access to economic opportunity and the chance to build assets and create wealth."
Booker and Pressley are pushing for the proposal to be folded into Biden's $1.9 trillion emergency spending package now making its way through Congress. Insider obtained a letter sent to Biden and Vice President Kamala Harris last month urging them to adopt the measure.
Looking for new ways to get money into the stock market?
WHAT...may the kids would like to eat before they are 18. What a ridiculous idea. We are in a crisis now. Hello wake up Booker!!
Its only money, and accounts are paying next to nothing.
Rather invest those $1000 in Bitcoin and give their increased value after 18yrs.
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